Charting the global economy: India can be the world's no.1 contributor to GDP growth by 2028
Bloomberg) --The European Central Bank held the line on interest rates but officials leaned even more toward a mid-year cut should inflation continue to cool.
Lower borrowing costs would help nudge a European economy that’s struggled to register any growth for longer than a year. On the other side of the Atlantic, US economic activity is on much more solid footing and inflation is running too fast for Federal Reserve policymakers.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, geopolitics and markets:
World
Outside of the ECB, Israel refrained from cutting interest rates, with officials focusing on heightening inflation expectations as the war in Gaza shakes the economy and defense spending surges. The Philippine central bank also left rates unchanged, as did Thailand, Serbia and New Zealand. Uganda hiked, while Peru delivered a surprising cut. South Korea and Canada kept rates unchanged but signaled possible easing at some point this year if inflation cooperates.
A new era of global rearmament is gathering pace, and it will mean vast costs and some tough decisions for western governments already struggling with shaky public finances.
Europe
The ECB held the deposit rate at a record-high 4%, while sending its clearest signal yet that slower inflation will soon allow it to commence cuts. While it said it would remain data-dependent and isn’t “pre-committing to a particular rate path,” President Christine Lagarde again signaled the prospect of
